Service Properties Trust (NASDAQ:SVC) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its stake in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 91.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,912 shares of the real estate investment trust's stock after selling 401,155 shares during the quarter. Ameriprise Financial Inc.'s holdings in Service Properties Trust were worth $99,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SVC. KBC Group NV raised its stake in Service Properties Trust by 140.6% in the fourth quarter. KBC Group NV now owns 19,666 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 11,491 shares during the last quarter. Empowered Funds LLC purchased a new stake in Service Properties Trust in the fourth quarter valued at about $96,000. Wolverine Asset Management LLC raised its stake in Service Properties Trust by 300.5% in the fourth quarter. Wolverine Asset Management LLC now owns 174,903 shares of the real estate investment trust's stock valued at $444,000 after buying an additional 131,237 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in Service Properties Trust by 3,721.5% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 591,225 shares of the real estate investment trust's stock valued at $1,502,000 after buying an additional 575,754 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in Service Properties Trust in the fourth quarter valued at about $561,000. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SVC. Wells Fargo & Company upgraded Service Properties Trust from an "underweight" rating to an "overweight" rating and increased their price target for the company from $2.50 to $4.00 in a research note on Wednesday, March 19th. B. Riley initiated coverage on Service Properties Trust in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $2.00 price objective on the stock.

Service Properties Trust Stock Performance

Service Properties Trust stock traded down $0.03 during midday trading on Wednesday, hitting $2.45. 941,666 shares of the company were exchanged, compared to its average volume of 2,145,989. The firm has a market capitalization of $408.26 million, a PE ratio of -1.67 and a beta of 1.87. Service Properties Trust has a fifty-two week low of $1.71 and a fifty-two week high of $6.34. The business has a fifty day simple moving average of $2.07 and a two-hundred day simple moving average of $2.46. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. The company had revenue of $435.18 million for the quarter, compared to the consensus estimate of $433.21 million. Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%.

Service Properties Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 22nd were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $0.04 dividend on an annualized basis and a yield of 1.63%. Service Properties Trust's payout ratio is -2.12%.

Service Properties Trust Company Profile

Service Properties Trust Nasdaq: SVC is a real estate investment trust with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of December 31, 2023, SVC owned 221 hotels with over 37,000 guest rooms throughout the United States and in Puerto Rico and Canada, the majority of which are extended stay and select service.